10 Februari 2021, USD/JPY
Technical observation
Yesterday USD declined to the zone 104.58-104.42 and it did not break below it as I had predicted. It bounced within the zone and I expect upwards movements towards to the resistance line 107.91. USD is still trading with the zone mentioned above and if you did not place a pending order yesterday, you can still pick long position right now within the zone with your take profit at 107.91 and stop loss at 103.09. In case of a rise and penetration above the line 107.91 with a big green candle, wait for a correction to it before you continue long with this pair towards the upper resistance level 112.08
Trade recommendation
Buy USD within 104.58-104.42 with your take profit at 107.91 and stop loss at 103.09.
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